Indianapolis Times, Volume 44, Number 168, Indianapolis, Marion County, 23 November 1932 — Page 1

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Be Your Own Columnist; Page One Is Wide Open for Your Views.

Editor Times— T READ in The Times the article written by Mr. Geist, owner of the Indianapolis waterworks. Mr. Geist should have waited until April 1 to wirte an article like that. If he feels as he does, why did he give his men a pay cut, effective 0 Oct. 31? The company has weathered the worst of the depression and now at this late date gives a cut. But if a man owes a water bill, he pays or has the water cut off, and there is no talk of a 10 per cent cut on his bill. A CONSUMER. a a a Editor Time it — IN reply to Regusted, appearing Nov. 17. Why get so hard nosed at the letter printed Nov. 10 by another Times reader? Hasn’t he as much right to relief as any of the rest? I know of three families that get all the relief they need, yet two of them have trucks. One of the men in question worked every day this summer, but never failed to get his help each week. He does paper hanging and painting, makes good money, had a telephone all summer, but was smart enough to put it in his wife's grandmother’s name. His wife has her permanent w r ave, goes to the show every week, and every time you go\there she is all plastered up with rouge, lipstick and eyeshade. Now tell me, Mr. Regusted, how do they get by with that? ANOTHER REGUSTED TIMES READER. a a a Editor Timet — WE notice in your edition of Nov. 17 on Page 18 an article headed "More Jobs, Higher Pay, Geist Depression Cure.” After reading this article, I believe every citizen in Indianapolis will agree absolutely with Mr. Geist, owner of the Indianapolis Water Company. But why doesn’t Mr. Geist set an example, if those are his views? Instead, in the last thirty days, nearly every employe of the Indianapolis Water Company took a 10 per cent salary cut. This method never will set the wheels of industry to .turning. Only the carrying out of his views and not just voicing them ever will bring prosperity back. H. R. a a a Editor Timet— • TN answer to Lodge Member, let me state that I am 23 years of age, and yet can say that I never have been solicited by any girl in Indianapolis. Why? The only answer I can think of is that I do not go downtown looking for them and unjustly gawk at every girl happening to pass me in a casual manner. I neither favor nor dispise such persons, and yet I have my first experience with them to come. I realize what some of them are up against, however. Many beautiful and well-educated girls were forced out of employment because of this depression, and many have turned to this as a means of making a living. Are they to be blamed for this practice? No, emphatically no. If men weren’t such fools about their emotions the women never would dare approach them. Usually men catering to this class know the kind of deal they are handling, know the risks involved, and know the price asked. Like animals, they let desires overcome better judgment and their good, common sense. Let the men practice what they preach, and if they are so interested in getting to their lodge, the look on their face will speak of forbidden territory, dangerous to trespass upon. ONE WHO IS NOT A HYPOCRITE. a a a • Editor Times — ALLOW me to congratulate you on your commendable editorial in The Times of Nov. 17, entitled ‘‘A Democratic Job.” I heartily agree with you that any one opposing a conference between President Hoover and Presi-dent-Elect Roosevelt, "about this foreign debt mess,” is standing in his own light. The meeting, as you intimate, is of more Importance to the incoming administration than it is to Mr. Hoover. lam utterly surprised that there is a single individual in this country who would wish to see a President deserted and made a scapegoat. They who say. "Let Hoover handle it,” and let him bear the responsibility, seem to imply that they fear the incoming administration may not be quite equal to the proposition. We should remember that this is not a personal affair, but national. Mr. Hoover did not make the loans in question, nor did he advocate them. He could, as you say, saddle the whole matter on to the incoming administration, but he shows a more patriotic American spirit, in giving Mr. Roosevelt opportunity to help fix matters in a way that will be least embarrassing to the new administration. JOSEPH B. HENNINGER. t Assistant Adjutant-General, G. A. R. a a a Editor Times— I HAVE read the suggestion made by the great Italian statesman Mussolini for cancellation of war debts. There are fair reasons for this. European debtor nations must have some source of income to meet their obligations. A principal source of revenue is exports. Their export trade has been crippled by our high tariff. To cope with this high tariff, they are forced to pay low w r ages to laborers so their goods can be sent to American markets, while the American consumer pays high prices, the whole profit going to a few protected industries. JACOBO DE POLACCO.

The Indianapolis Times Cloudy and colder tonight with lowest temperature about 24; Thursday fair.

VOLUME 44—NUMBER 168

NEWSPAPER IS CLEARED OF FRAUDCHARGE Scripps-Howard Executives in Youngstown Win in Court Battle. JUDGES DISMISS CASE 9 Abrupt End Comes After State Rests; Circulation Padding Alleged. By Bcripps-Hotcard Xcw*paper Alliance YOUNGSTOWN, 0., Nov. 23. Four executives of the Youngstown Telegram, a Scripps-Howard newspaper, stood exonerated today of the charge of having caused false circulation to be published to defraud advertisers. Three common pleas judges, sitting as a tribunal in Mahoning county common pleas court, unanimously decided to grant the motion of counsel for the defendants to dismiss the indictments, after the state had rested its case. Although defense counsel, Marcellus De Vaughan, made the motion as a formality at conclusion of the prosecutor’s evidence, he also requested the judge to defer ruling on the motion to permit the defense to present its evidence. The three judges, however, unanimously declined to delay the trial further, and handed down their opinion dismissing the charges against all four defendants. End Comes Abruptly The trial was in its second week when it came to an abrupt end after fifty-three witnesses, including numerous employes of the Youngstown Vindicator and former employes of the Telegram, had testified. The defendants exonerated were: Thomas J. Dowling, circulation advisor of the Scripps-Howard newspapers; John Watters, business manager of the Telegram; James J. Morrissey, circulation manager, and Joseph A. Finster of Dallas, Tex., former circulation manager. Judges David G. Jenkins, presiding and Erskine Maiden Jr. and George H. Gessner heard the testimony and concurred in the decision. Attorney De Vaughn made his motion at completion of the testimony of Olar R. Scott, star state witness and former circulation manager of the Telegram, who testified he had been employed by the Vindicator until one week before the trial began. Scott spent the entire day, Monday, on the witness stand and was recalled Tuesday for further crossexamination by De Vaughn. Admits Conferring With ‘Rival’ Under cross examination, Scott admitted he has had numerous conferences since the trial began with Walter Test, circulation manager of The Vindicator, in the offices of that newspaper. Test formerly had been a circulation manager of Scripps-Howard newspapers, and had been discharged before coming to the Vindicator. Other acknowledgments made by Scott under cross - examination were: That although he had been discharged by the Telegram on Jan. 12 of this year, he had met W'ith Test in the middle of December previous and discussed methods of his own newspaper at that time. That both before and since the (Turn to Page Twelve) WORK ON NEW I. U. SCHOOL TO BE BEGUN Contractors to Start Within Few Days on Dental Building. \ Work on the new three-story Indiana university school of dentistry, to be built on the south side of Michigan street opposite the Robert W. Long hospital, will begin within the next few days. Contracts for construction w*ere let last week by the university’s trustees. The William P. Jungclaus, city builders, W'ere awarded the general contract on a bid of $165,000. The building is to be completed by Aug. 15, 1933. The structure will be of Indiana limestone. The main dental clinic will be on the third floor. It is hoped to occupy the school at the beginning of the fall term of 1933. DIES OF AUTO FUMES Ft. Wayne Man Victim in His Closed Garage. By United Press FT. WAYNE. Ind.. Nov. 23.—Carbon monoxide fumes caused the death here late Tuesday of Harold L. Burkas, 41, when he attempted to start has automobile in a closed garage.

7-YEAR-OLD DEATHBED CONFESSION MAY FREE MAN IMPRISONED FOR 9 YEARS

(Pictures on Pare Three) BY SHELDON KEY 4 7-YEAr-OLD deathbed confession of another man that he committed the murder for I which Charles J. Schmitt, a World war veteran formerly of Gem, Ind., has served nine years ; in prison, is the legal instrument which soon may gain Schmitt’s •'freedom. After working several years for his release, Mr. and Mrs. Aaron Humbles. 824 South Capitol avenue. Schmitt's aunt and uncle, were informed today that justice soon will vindicate itself. Their attorney, A. F. Zainey, Indianapolis, believes Schmitt will be released within a few days. He bases his opinion on letters form %•

INDIANAPOLIS, WEDNESDAY, NOV. 23, 1932

LONELY PAIR OF BEAUTIES

That’s All Dumas Finds in Hollywood

If I gr ■z&tfSr I HE I JJf Ml y.’ : jSßjpj; JR I ja hHt HR |pj( —— ; —iy - v iHf ~ ' Jean Harlow Above. Dumas SLAME CHINESE, BOOST FUND TO JAPAN DEMANDS i $565,537 MARI ilk jjfk SP -ytton Board Ordered to B WK 53.7 Per Cent of Goal Is Ir Reconsider Report. W UmLB Increases Listed. t;/ l tntrd Tress Fledges to the Community GENEVA. Nov. 23.—Tile League Hp. Fund reached a total of f Nations council, considering the HK.. JMP 5622.163.07, or 59.1 per cent of ar eastern conflict, today ordered the goal of 51,052,000, it was a.nhe Lytton commission to meet nounced today at a luncheon of gain, and—in the light of state- workers in the Claypool. Fledges nents by Chinese and Japanese ** today were for $56,625.17. Iclegates to the council—decide if _ t desires to modify its report on Reports of substantial increase

BLAME CHINESE, JAPANDEMANDS Lytton Board Ordered to Reconsider Report. By United Press GENEVA, Nov. 23.—Tlie League of Nations council, considering the far eastern conflict, today ordered -the Lytton commission to meet again, and—in the light of statements by Chinese and Japanese delegates to the council—decide if it desires to modify its report on the warfare in Manchuria. Japan asked the council today to hold China responsible for the conflict. "We have not violated a. single treaty,” Yoseke Matsuoka of Japan declared in resuming debate. He challenged Dr. Wellington Koo of China to prove his statements that Japan sponsored the disorganization of China. Dr. Koo kept his eyes on his papers while Matsuoka was speaking. ’ ' The Japanese denied Koo’s general charges, and said a charge that Japan has a policy of expansion and conquest of China, the United States and the rest of the world is based on forged documents. "The Chinese are exploiting foreign gullibility with spurious documents,” he said. He pictured Japan as a peaceloving nation for twenty-six centuries. SKIES TO BE CLEAR Sunshine for Thanksgiving, Is Bureau Forecast. Sunshine and crisp weather will be part of the Thanksgiving menu for Mr. and Mrs. Indianapolis and family, it was forecast today by the weather bureau. While rain will fall most of today, skies will clear tonight and the mercury will fall to about 8 degrees below freezing, according to the forecast. Rain today and Tuesday night rapidly was clearing streets of a coating of ice and snow from last week's blizzard. Rain results from a moist area extending from Michigan to Arkansas, but will be supplanted by a belt of clear skies moving eastward from the northwest. THREE SLAIN IN HOLDUP Fourth Man Critically Wounded in Attempted Bank Robbery. By United Press BOLEY, Okla., Nov. 23.—Three men were killed and one was critically wounded today during an attempt to rob the Farmers and Merchants bank. BONFIRE BURNS FATAL Shelbyviile Child Dies at Riley Hospital of Injuries. Severe burns suffered when her clothing was ignited by a bonfire at her home Oct. 3. caused death today at the Riley hospital for children of Phillis Fulk, 5, of Shelbyville.

Warden Walter H. Daly and the prison physician. Michael E. Foley, local attorney and prison board member, also has aided in the case. Thursday will be the happiest Thanksgiving yet experienced by Schmitt, prisoner No. 10,295, who today wTote his aunt: •‘The first link in erasing the clouds of unhappiness and lonesomeness came Saturday at 10, when I signed my recommndation for release.’” a a a SCHMITT, no.w 32, was sentenced from the Greenfield circuit court in March, 1924, charged with murder of a neighbor, August Spilker. who was shot four times the night of Nov. 23. 1923.

Barbara Kent BY DOUGLAS GILBERT, Times Staff Writer NEW YORK, Nov. 23. —Only two girls in the entire galaxy of Hollywood stars are really beautiful in real life. That's the verdict of Dumas, hairdresser to—and terror to—the elite of New York. The two? Jean Harlow and Barbara Kent. The king has spoken. New York girls have million - dollar bodies and ten-cent faces, says Dumas, who has looked at Park avenue’s loveliness for eight years—and still is amused at its ugliness. His dowager-deb clientele call him the most insulting man in the world —and keep coming back for more. Probably because his touch in his art, as well as his language, is original. "Racket,” Dumas frankly calls it. Tip to the ladies: Water, costless and cleanly, is the best skin freshener in the world, he says. ana A FEW weeks ago the wife of a bank president walked out of his shop in a huff at his manner—and came back to praise his method, “She came in,” said Dumas, “and I say to her, ‘Your gown, madame, is magnificent, your jewels gorgeous, your face is like a charwoman’s.’ And so it was. American women do not know how to make up, don’t understand it. . “Makeup should be used only to accentuate the best in one’s face. Our girls use it only to cover blemishes. All wrong.” Men have more taste, he says, than women, who are copycats with no originality at all. The Tartar in Dumas is inherent. His mother was Russian, and he was born in what was then St. Petersburg thirty-three years ago. His mother called him Dmitri. His father was the makeup artist for the Russian imperial opera. WEDS FOR 12TH TIME: 16 CHILDREN LOOK ON Wealthy Widow Takes Vows Hoping It Will Be ‘Last Time.’ By United Press URANIA, La., Nov. 23.—Her sixteen children were among the wedding guests when Mrs. Caroline McManus, 57, wealthy widow, was married for the twelfth time here. Mrs. McManus was raised from poverty to riches when the TullosUrania oil field was brought in here six years ago. As she departed on her honeymoon she expressed the hope “this will be the last time.”

Relatives base hopes for Schmitt's freedom on the deathbed confession of the prisoner's stepfather, Albert Schmitt, who died here Oct. 12, 1925. The aunt and foster mother, Mrs. Louise M. Wright, 63, of Edgewood, have sworn to affidavits concerning that confession. They say they were present and heard Schmitt's dying words. ‘‘l know Charles J. Schmitt is not guilty of the crime of murder. I know my former husband, who died Oct. 12, 1926. was the real murderer who killed August Spilker,” Mrs. Wright has stated. Albert Schmitt is said to have admitted he killed Spilker because Spiiker refused to repay a debt. Because of a mental disturbance which apparently struck

BOOST FOND TO $565,537 MARK 53.7 Per Cent of Goal Is In; Increases Listed. Pledges to the Community Fund reached a total of 9622,163.07, or 59.1 per cent of the goal of $1,052,000, it was announced today at a luncheon of workers in the Claypool. Pledges today were for $56,625.17. Reports of substantial increases over last year’s pledges marked the Tuesday noon report meeting of volunteer workers for the Indianapolis Community Fund. With practically all divisions reporting that increases had been recorded in comparison with last year’s performance, the total amount of money raised to date for the relief of the city’s needy was boosted to $565,537.90, representing 53.7 per cent of the goal. A total of $59,482.01 was reported at the Tuesday meeting to pass the half-way mark in the drive for $1,052,000 by Monday. Among the groups reporting substantial increases over previous pledges were the employes of the Coca-Cola Bottling Company, who subscribed 100 per cent for a total of $530.20 compared with last year’s $231 and employes of the Capitol Dairies, Inc., $389.55 against $137.50 last year. The special gifts division reported Tuesday with the highest per cent of its quota, 58.3. The branch house division was next with 57.3 per cent, followed by individual gifts, 54.7 per cent, and the employes group, 37.3 per cent. HITLER REFUSES BID Hindenburg Told Terms Impossible to Accept. By United Press BERLIN, Nov. 23.—Fascist headquarters declared today that Adolph Hitler’s last letter to President Paul von Hindenburg informed the President it would be impossible for the Fascist leader to form anew parliamentary cabinet under the conditions imposed by the president.

Bright Spots

Bv United Press Department of commerce reports air passenger traffic in United States during first half of 1932 totaled 217,588 persons, against lift,Bl6 in the corresponding 1931 period. Lord and Taylor declares extra dividend of $5 a share on common stock. R. G. Dun & Cos. reports business failures last week numbered 480, against 495 in preceding week and 588 in like week last year. Department of commerce reports October agricultural equipment exports totaled $831,514, increase of 6 per cent from September. National Cash Register Company reports its eastern sales have improved sharply in recent months.

Schmitt the morning after * the murder, he never wes tried on the murder charge, but committed to the state prison colony for the insane. a a a THE court ordered that he be held until he had recovered sufficiently for trial. Relatives hope authorities will erase the charges and not make Schmitt stand trial, if released. •’He is quiet, orderly and agreeable at all times, cheerful and a good worker. So far as I can tell, he has fully regained his mental health,” Dr. P. H. Weeks, prison physician, has written Zainey. Mrs. Humbles has exhausted a S4OO fund, seeking her nephew's freedom. “ Schmitt has declared half of a

Entered m Second Class Matter at Postoffice, Indianapolis

HOOVER RECLINES PLEA OF EUROPEAN NATIONS TO DELAY DEBT PAYMENTS Proposes, However, That Agency Be Set Up by Congress to Discuss Whole Question and Their Relation to World Economics Situation. PLAN IS ANNOUNCED AFTER CONFERENCE Roosevelt Notifies President He Will Not Take Any Further Part in Problem for Time Being; Leaves Today for South for Holidays. By United Press WASHINGTON, Nov. 23.—President Herbert Hoover today declined the plea of European debtors for a postponement of $125,000,000 war debt payments due Dec. 15. He proposed, however, that an agency be set up by congress to discuss ,s the whole question of war debts and their relation to the world economic situation. Linking of debts with disarmament also was*hinted.

Mr. Hoover urged that such a debt agency be composed of members entirely or partially the same as those delegated to the world economic conference and the world disarmament conference. Link Arms and Trade This was construed as foreshadowing a linking of disarmament and world trade with the $11,000,000,000 war debts. Mr. Hoover hinted at the possibility of foreign nations paying in their own currencies. This would ease the burden on those nations whose currency has depreciated, such as Great Britain. The state department was expected to dispatch replies to Great Britain, France, Belgium, Czechoslovakia and Poland today, declining to agree to suggestions for postponement of the Dec. 15 payment. Mr. Hoover’s plan was outlined in a lengthy White House statement, issued after a conference with Treasury Secretary Ogden Mills, State ecretary H. L. Stimpson and fourteen congressional leaders. After the congressional conference, Mills visited President-elect Franklin Roosevelt in the latter’s hotel suite. It was announced later that Mr. Roosevelt did not intend to take any further part in the debt problem for the time being and would leave for Warm Springs, Ga., at 2 p. m. Willing to Discuss Debts Mr. Hoover asserted his willingness to discuss the debt problem with debtors. “Discussion does not involve abandonment on our part of what we believe to be sound and right,” he said. “If our civilization is to be perpetuated, the great causes of world peace, world disarmament and world recovery must prevail.” President-elect Roosevelt today made his first move toward closer co-operaticn between the executive and judicial branches of the government. The Governor interrupted a series of purely political conferences to receive supreme court Justice Louis D. Brandeis. Brandeis, leader of the court's liberal group, was an early morning caller at Roosevelt’s hotel suite. Special Tariff Urged By United Press LONDON, Nov. 23. —A suggestion that Great Britain pay the next three annual installments of her war debt to the United States, and then impose special tariffs on imports from America was made in the house of commons today by the Rt. Honorable Leopold Stennett Amery conservative. Amery, in a sensational speech, proposed that Great Britain use the present gold reserves in the Bank of England—which has waged a long battle to protect its reserves—to pay the debt installments. UTILITY BOSS SUICIDE Insull Subsidiary Manager, Despondent, Ends His Life. By United Press LEXINGTON. Mo.. Nov. 23. Worth Bates, 53, general manager of the Missouri Gas and Electric Company, an Insull subsidiary, shot himself to death today in an ice house owned by the concern. Friends said he had been despondent because they lost money on Insull stocks bought on his advice.

$750 soldier bonus will go to the person who does most to win his freedom, it is reported. Mrs. Humbles also has a promise to fulfill. When Oliver M. Humbles, Schmitt's father, died at Rock Island, 111.,, two years ago, she said she promised to devote her whole life, if necessary, to ward releasing Charles from prison. a a a “AT last I will be given opl\ portunilty to start payment on the debt I owe you,” Schmitt said in the letter received by Mrs. Wright today. “I know you patiently are awaiting the day when I can face you. “Scenes of my childhood will bring back memories of the days that always have been

Tug-of-War Is Waged With Roosevelt as Center

BY RAY TUCKER Times Staff Writer WASHINGTON, Nov. 23.—The history-making war debts conference between President Herbert Hoover and President-Elect Franklin D. Roosevelt today left the latter as the central figure in a tug-or-war between the administration and Democratic leaders on Capitol hill. On the one side President Hoover and Ogden L. Mills, treasury secretary, asked his support for revival of the congressional debt commission to re-examine the whole question of the $11,000,000 war debts moratorium, beginning either with the December or June payments. On the otehr side. Democratic member of house and senate, led by Vice-President-Elect John Garner of Texas, urged him to refuse any concession, delaying until March 4 any Democratic action on the problem.

Aitnougn a joint statement by Mr. Hoover and Mr. Roosevelt said that “progress had been made” in their three-hour talk in the Red room of the White House, and although administration spokesmen expressed themselves as "satisfied” with the preliminary results, it is understood that Mr. Hoover and Mr. Roosevelt still are far apart. Roosevelt Stand Softened The President-elect is known to have made no commitments pending further conferences with Democratic leaders here and at Warm Springs. Nevertheless, it is believed that the presentation of the situation by Mr. Hoover and Mills at the White House conference "softened” Roosevelt’s stand on Europe’s debts. They gave the incoming President facts and figures which were new to him. They turned over confidential information of the state and treasury departments, and painted a picture of a depressed Europe and a depressed United States unless the debtors were given a renewed breathing spell. Garner Chief Adviser Hoover obviously does not want to recommend any definite action without Roosevelt’s support. And the latter does not care to commit himself at this time, with almost all the Democrtas in congress opposed to further negotiations with the debtors. So it is obvious that Roosevelt will reach no decision until he has canvassed congressional opinion here today, and at conferences to be held at Warm Springs, Ga., beginning Thursday. The very incidents of the day of conferences indicated their trend. Hardly had Roosevelt arrived at the capital before Garner showed up at

Gloom Overhangs European Diplomatic Circles at Capital

BY WILLIAM PHILIP SIMMS Scripps-Howard Forei*n Editor WASHINGTON, Nov. 23.-Gloom thick enough to be cut with a knife overhung European diplomatic circles here today after President Herbert Hoover and President-Elect Franklin D. Roosevelt failed to get anywhere at the White House meeting Tuesday. The sudden emergence of Speaker John N. Garner from the side lines, where he has been pretty much throughout the campaign, into the limelight as “adviser” on foreign policy to Governor Roosevelt, was regarded at once as ominous. He was understood to have warned the President-elect that it was hopeless to attempt to get congress

happy had it not been for an unkind man who had nothing but a heart of stone and a jealous mind. “Now that he is departed, we can be happy forever. I want to go back to Texas (where he lived in childhood) and see the bright side of life that has been denied me all these years. “I want a nice place where I can raise some chickens and have a truck garden and a cow. We can live independently for it has become my ambition to live in the good country air. I have decided to let the city alone . . . my one ambition i$ to make your remaining as happy and comfortable as possible.” “I hope to be returned to Greenfield soon.”

HOME EDITION PRICE TWO CENTS Outside Marion County, 3 Cents

his hotel to reiterate his opposition to additional kindness to Europe. In the afternoon Roosevelt conferred with Mr. Hoover and Mills, and it generally is believed that their information led him to view the problem with more of an open mind. In the evening, however, “Jack’* and his battalions bore down. Roosevelt had asked Garner to bring along a few advisers from house r.nd senate, but the Speaker rounded up about forty. Almost every member told the President-elect that they were opposed either to extension of the moratorium or reconsideration of the iebt problem. Barring unforeseen developments, they convinced Mr. Roosevelt it would be the part of wisdom for (Turn to Page Three) INJURED MAN IS FOUND Treated Today for Broken Collar Bone Suffered Ten Days Ago. Treatment for a broken collar bone, incurred ten days ago by Morris Gennett, 40, of 228 North Senate avenue, was given for the first time today. Police, called to the Senate avenue address on a report that a man was hurt, sent Gennett to the city hospital. He said he was struck by an automobile ten days ago, but could give no details. Efforts to obtain a statement were hampered because Gennett is almost totally deaf. Hourly Temperatures 6 a. m 38 10 a. m 39 7a. m 38 11 a. m 39 Ba. m 37 12 (noon).. 40 9a. m 38 Ip. m 40

to agree to further moratorium or revision. If the British are forced to pay the $94,000,000 December installment, a well-posted Englishman, not an official, declared to the writer, the pound sterling, almost certainly wall go to $3 and below. It is now around $3.30. The French gold position, it is said, is far from what it seems. Though she has almost as much gold as the United States—that is to say around $4,000,000,000 or approximately three times as much per capita as there is in this country—it really does not belong to France, It is gold “in flight.” It simply happens to be roosting in France for the moment, so to speak, for as long as confidence lasts. Once something happens to upset that confidence, French gold will fly out as fast as it has flown in. It was, and still is, hoped that if the worst comes to the worst, and Britain, France and the other debtor nations must either pay on Dec. 15 or default, the United States at least will agree to allow the payments to be deposited, either to the account of the United States in the various countries owing the money, or at the Bank of International Settlements at Basle. This would get around the exchange difficulty pending a solution.

One Edition In accordance with holiday enstom, The Times will issu#* only one edition on Thursday, Thanksgiving day.